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Friday, October 30, 2020

September personal income comes in surprisingly strong

September Personal Income and Outlays: Income +0.9% M/M vs. +0.3% consensus and -2.5% prior (revised from -2.7%).

Consumer spending: +1.4% M/M vs. +1.0% consensus and +1.0% prior.

PCE Price Index: +0.2% in-line with consensus and +0.3% prior.

Core PCE Price Index: +0.2% in-line with consensus and +0.3% prior.

"The increase in personal income in September reflected increases in proprietors’ income, compensation of employees, and rental income of persons that were partly offset by a decrease in government social benefits."

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